LONDON: In a rare move to calm investors' nerves, British financial authorities stepped forward on Wednesday to quench a string of "unfounded rumors" that had sent some financial stocks in London into a tailspin.
The Financial Services Authority said it had started an investigation into whether some traders spread rumors about British financial institutions over the last few days and might have profited from the decline in the stocks' share prices. Separately, the Bank of England, which almost never makes public statements about specific lenders, denied rumors that it met or scheduled to meet with executives at a British bank to discuss potential liquidity problems.
[Read More:International Herald Tribune]
Wednesday, March 19, 2008
British authorities try to quell damaging financial rumors - International Herald Tribune
Economics Blog : IMF: Moving Ahead on Sovereign Wealth Funds
The International Monetary Fund’s executive board is expected on Friday to bless the staff’s effort to create a voluntary code of “best practices” to guide sovereign wealth funds, giving a political boost to the efforts.
On a request from the Group of seven nations – U.S., Germany, Italy, Japan, Britain, France and Canada — the IMF has been trying to put together a kind of voluntary code of conduct that would help sovereign wealth funds convince skeptical politicians in Europe and the U.S. that the funds are investing for commercial rather than political reasons
[Read More:WSJ Blogs]
Science fiction author Arthur C. Clarke dies aged 90 - Times Online
He was the best science fiction writer. "2001: A Space Odyssey" is, in my view one the best movie ever, if not the best.
Sir Arthur C. Clarke, the science fiction writer, has died aged 90 in his adopted home of Sri Lanka, it was confirmed tonight.
[Read More:Times Online]
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